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The Determinants of Economic Well-being:An Application in the Indian States

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  • Sudip Ranjan Basu

    (Graduate Institute of International Studies HEI , Geneva)

Abstract

The purpose of this paper is to explore the determinants of economic well-being. We provide a methodology to compute well-being by aggregating different socio-economic dimensions with factor analysis technique. We also estimate quality of good governance (using latent variable approach) and a financial decentralisation index. Panel data is employed to explore if better quality of institutional arrangements (of governance and more financial decentralisation) lead to better outcome in the economic well-being index. The evidence shows a strong positive link ( from using data of 16 major Indian states over four points of time (1970s to 1997-latest)).

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File URL: http://128.118.178.162/eps/dev/papers/0509/0509009.pdf
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Bibliographic Info

Paper provided by EconWPA in its series Development and Comp Systems with number 0509009.

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Length: 34 pages
Date of creation: 08 Sep 2005
Date of revision:
Handle: RePEc:wpa:wuwpdc:0509009

Note: Type of Document - pdf; pages: 34. pdf format
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Web page: http://128.118.178.162

Related research

Keywords: Economic Well-being; Governance; Decentralisation; Panel data; India;

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  10. Stephen Knack & Philip Keefer, 1995. "Institutions And Economic Performance: Cross-Country Tests Using Alternative Institutional Measures," Economics and Politics, Wiley Blackwell, vol. 7(3), pages 207-227, November.
  11. Andrea Bassanini & Stefano Scarpetta & Philip Hemmings, 2001. "Economic Growth: The Role of Policies and Institutions: Panel Data. Evidence from OECD Countries," OECD Economics Department Working Papers 283, OECD Publishing.
  12. Mauro, Paolo, 1995. "Corruption and Growth," The Quarterly Journal of Economics, MIT Press, vol. 110(3), pages 681-712, August.
  13. Islam, Nazrul, 1995. "Growth Empirics: A Panel Data Approach," The Quarterly Journal of Economics, MIT Press, vol. 110(4), pages 1127-70, November.
  14. Pranab Bardhan & Dilip Mookherjee, 1998. "Expenditure Decentralization and the Delivery of Public Services in Developing Countries," Boston University - Institute for Economic Development 90, Boston University, Institute for Economic Development.
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